North West | Transport, logistics | Finance, business

IFC eyes $250m Pulkovo upgrade loans

9 Mar '10

The International Financial Corporation (IFC) board will hold a meeting on April 15 to consider lending, in cooperation with other banks, a total of about $250m to St. Pete’s Pulkovo airport to be upgraded, IFC said.

The overall cost of the upgrade project is a reported $1.8bn.

As was reported earlier, the EBRD is also considering a loan worth $150m.

The Pulkovo upgrade project calls for construction of a new passenger terminal for international flights with a throughput capacity of up to 7.4 million people a year, with the possibility of increasing it to 22 million by 2025.

Construction is reportedly expected to begin later this year and be completed in 2013.